Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against New Oriental Education & Technology Group Inc. (“New Oriental” or the “Company”) (Nasdaq: EDU). Investors who purchased or otherwise acquired New Oriental shares between September 27, 2016 and December 1, 2016 inclusive (the “Class Period”), are encouraged to contact the firm in advance of the February 13, 2017 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, we encourage you to click here or contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
On December 2, 2016, an article was published by Reuters disclosing that New Oriental has been accused of participating in college application fraud. According to the article, “[e]ight former and current New Oriental employees…told Reuters the firms have engaged in college application fraud, including writing application essays and teacher recommendations, and falsifying high school transcripts.”
The same day, Reuters published an update revealing that due to its earlier report detailing academic fraud allegations at New Oriental, the American International Recruitment Council (“AIRC”) stated that it “will investigate the company in response to the report”, and the AIRC’s president-elect referred to the allegations as “highly concerning.”
When this information was revealed to the public, the value of New Oriental fell sharply on December 2, 2016, causing investors severe harm.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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